On January 31, 2024, the shareholder of Royal Steensma (or the “Company”) entered into a definitive agreement to sell the Company to Dawn Foods, a global bakery manufacturer and ingredients supplier. With the transaction, two family-owned companies with long bakery heritage join forces.
Royal Steensma, a renowned bakery ingredients manufacturing company headquartered in Leeuwarden, the Netherlands, has a broad bakery product portfolio and specialises in fat-based coatings (Souplesse), almond and confectionary pastes, bakery mixes, fruit fillings as well as infused and candied fruits and decorations. Royal Steensma has been a leader in the bakery market for almost 185 years.
With the acquisition of Royal Steensma, Dawn Foods strengthens its strategic position in Europe, whilst further complementing its global product offering. The acquisition includes four manufacturing plants in the Netherlands, a manufacturing facility in Thailand, and continued involvement with the Food Innovation Academy (FIA) education center in the Netherlands. Additionally, all Royal Steensma employees are now valued team members of Dawn Foods.
The sale of Royal Steensma was overseen by Squarefield, a leading Food & Agri focused corporate finance advisor with offices in Amsterdam, Frankfurt, and Antwerp.